Here are the 10 most shorted ASX shares this week

Short sellers are betting big on these ASX shares sinking from current levels…

a woman holds her hands to her temples as she sits in front of a computer screen with a concerned look on her face.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

At the start of each week, I like to look at ASIC's short position report to find out which shares are being targeted by short sellers.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn't quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

  • Flight Centre Travel Group Ltd (ASX: FLT) remains the most shorted ASX share despite its short interest easing to 11.8%. Revenue margin headwinds may be causing concerns.
  • Betmakers Technology Group Ltd (ASX: BET) has seen its short interest ease slightly to 11.2%. This may be due to competition and cash burn concerns.
  • Sayona Mining Ltd (ASX: SYA) has 10.4% of its shares held short, which is down slightly week on week. Falling lithium prices have been weighing on the sector.
  • Core Lithium Ltd (ASX: CXO) has short interest of 9.7%, which is down week on week. The sustained weakness in spot lithium prices appears to be spooking investors.
  • Zip Co Ltd (ASX: ZIP) has short interest of 9.3%, which is up week on week. This may be down to short sellers doubting Zip's ability to achieve its profitability goals.
  • Megaport Ltd (ASX: MP1) has seen its short interest ease to 9%. Short sellers will have been pleased to see this network as a service provider's shares sink last week after the shock exit of its CEO.
  • Liontown Resources Ltd (ASX: LTR) has short interest of 8.5%, which is up week on week again. This appears to be due to major cost blow outs at the Kathleen Valley Lithium Project and lithium price weakness.
  • Pointsbet Holdings Ltd (ASX: PBH) has returned to the top ten with short interest of 7.2%. Concerns about the sports betting company's cash burn could be behind this.
  • JB Hi-Fi Limited (ASX: JBH) has arrived in the top ten with 7% of its shares held short. This may be due to fears over the impact of the cost of living crisis on consumer spending.
  • Nextdc Ltd (ASX: NXT) has also entered the top ten with short interest of 6.8%. There may be fears that the economic environment could delay major contracts for this data centre operator.

Motley Fool contributor James Mickleboro has positions in Nextdc. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Betmakers Technology Group, Megaport, PointsBet, and Zip Co. The Motley Fool Australia has recommended Betmakers Technology Group, Flight Centre Travel Group, Jb Hi-Fi, Megaport, and PointsBet. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

Two smiling work colleagues discuss an investment or business plan at their office.
Broker Notes

Brokers name 3 ASX shares to buy today

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A young female investor sits in her home office looking at her ipad and smiling as she sees the QBE share price rising
Share Market News

5 things to watch on the ASX 200 on Friday

A good finish to the week is expected for Aussie investors.

Read more »

A man has computer-generated images rushing through his head indicating an AI (Artificial Intelligence) concept of a communication network.
Technology Shares

ASX investors are obsessed with Nvidia shares! Here's why

The global chipmaker reported a 94% increase in annual revenue in the third quarter.

Read more »

A man wearing a red jacket and mountain hiking clothes stands at the top of a mountain peak and looks out over countless mountain ranges.
Share Gainers

Here are the top 10 ASX 200 shares today

It was another disappointing day for ASX investors this Thursday.

Read more »

two racing cars battle to take first place on a formula one track with one tailing the the leader and looking to overtake the car.
Opinions

Down 21% in 2024. This ASX 300 stock looks like a money-making monster

Profits are expected to plunge, but the future could still be bright.

Read more »

A businesswoman exhales a deep sigh after receiving bad news, and gets on with it.
52-Week Lows

Down 68% from highs, this ASX 200 stock just hit a 4-year low. Time to pounce?

Is this beaten down stock a buy? Let's see what one leading broker is saying.

Read more »

two men smiling with a laptop in front of them, symbolising a rising share price.
Share Gainers

Why Pinnacle, PWR, Race Oncology, and Vulcan shares are flying today

These shares are having a good session on Thursday. But why?

Read more »

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Accent, Sayona Mining, Web Travel, and Weebit Nano shares are dropping today

These shares are having a tough time on Thursday. Why are they being sold off?

Read more »